Property Valuation
The 'reconciliation' step in an Arizona appraisal involves:
AAdjusting the subject property for differences from comparables
BWeighing and combining the value indicators from each appraisal approach into a final value estimate✓ Correct
CVerifying that the property exists on the county assessor's rolls
DComparing the appraisal value to the purchase contract price
Explanation
Reconciliation is the final step where the appraiser analyzes and weights the value indications from each approach (sales comparison, cost, income) to arrive at a single final value estimate based on the most reliable data.
Related Arizona Property Valuation Questions
- The cost approach to value starts with:
- Which of the following would be considered 'external obsolescence' for an Arizona property?
- Market value in Arizona real estate appraisal is most accurately defined as:
- Which of the following BEST defines 'highest and best use' of a property?
- The appraisal approach most commonly used to estimate the value of single-family residential properties in Arizona is the:
- The sales comparison approach to value is MOST appropriate for:
- External obsolescence affecting an Arizona property's value might be caused by:
- An Arizona appraiser finds a comparable sale has one extra bathroom compared to the subject property. The appraiser would:
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